iomart Group plc (AIM:IOM), the managed hosting and cloud computing company, is pleased to provide its pre-close trading statement for the year ending 31 March 2012 ahead of the announcement of its full year results.
Group Trading Performance
The Board is delighted to report that iomart has achieved a very strong set of results across both its operating segments, ahead of market consensus. For the year to 31 March 2012, the Group expects to show an adjusted EBITDA(1) of not less than GBP11 million (FY2011: GBP6.6 million) and adjusted(2) profit before tax of approximately GBP6.7 million (FY2011: GBP3.6 million).
The Group has delivered strong organic growth as well as good performances from the acquired businesses and the Board sees continued organic and acquisitive expansion prospects for iomart going forward.
iomart Hosting has continued to win a substantial number of contracts over the year, as the Group continues to benefit from the growing requirement for CIOs and CTOs to examine the resilience of their IT solutions and platforms resulting in companies outsourcing more elements of their IT infrastructure to proven third party providers like iomart. The segment also benefitted from the contribution of EQSN, the hosting business acquired at the end of November 2011. Excellent progress has been made on the integration of this operation.
The Easyspace division also delivered an improved performance in terms of both profitability and cash generation, in part as a result of the successful integration of the acquisitions of Switch Media and Global Gold Holdings.
Having successfully purchased and integrated Switch Media, EQSN and Global Gold during this financial year the Group continues to pursue additional opportunities for continued accelerated growth through acquisitions.
Notice of Results
The Board expects to report full year results for the year ending 31 March 2012 on Tuesday 29 May 2012.
Angus MacSween, CEO of iomart Group plc, stated:
"iomart continues to benefit from a compelling mix of recurring revenues, sticky customers, good forward visibility and a leading competitive position. As a result we remain very confident of further growth in the next financial year and beyond."
(1) adjusted EBITDA means earnings before interest, tax, depreciation, amortisation, share based payment charges acquisition related costs and non recurring acquisition integration costs.
(2) adjusted profit before tax means profits before, tax, share based payment charges, amortisation of acquired intangibles, acquisition related costs and non recurring acquisition integration costs.
For further information:
iomart Group plc Tel: 0141 931 6400
Peel Hunt LLP Tel: 020 7418 8900
(Nominated Adviser and Broker)
Newgate Threadneedle Tel: 020 7653 9850
Hilary MillarSubscribe to RSS Feed